Sequential Growth Option and the Value of the Firm: a Real Options Approach
The purpose of this paper is to value a firm with sequential growth options in two types of uncertainty, 'uncertain cash flow' and 'uncertain investment yield'. The paper shows that such a firm can be valued by the real options approach, given the firm's cash process, investment yiel process and investment policy.
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|Date of creation:||1998|
|Date of revision:|
|Contact details of provider:|| Postal: University of Southampton, Department of Accounting & Mangement Science, Southampton S09 5NH UK.|
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Fax: 44 0173 593858
Web page: http://www.soton.ac.uk/~econweb/
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